User Account

All Pages

...., Microeconomics

Assignment Help:
Homework 4 Q1. Suppose a consumer has utility function (u) = xy where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is $120, price of good x is $1/ unit and the price of good y is $4/ unit. (80 pts) 1.1) Maximize utility for this consumer. 1.2) Use the bordered Hessian to test the second-order condition.

Q2. Given the total cost function: C = x2 + 2xy + 2y2 for a firm producing goods x and y. The firm must meet a production quota of 2x + 3y = 40. (80 pts) 2.1) Minimize cost for this firm. 2.2) Use the bordered Hessian to test the second-order condition.

Q3. A consumer wants to maximize utility u (x,y) subject to the constraint PxX +PyY = B where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is B, price of good x is Px and the price of good y is Py. Assume that the secondorder sufficient condition is met so lHl = lJl ? 0. Find dx/dPx (80 pts)

Related Discussions:- ....

Please help, 1. Suppose the banking system has reserve of $750000, demand d...

1. Suppose the banking system has reserve of $750000, demand deposits of $2500000 and a reserve requirement of 20%. a. if the fed now purchases $125,000 worth of govt bonds from t

#ttitl derivation of demand funcation, derivation of demand funcation usin...

derivation of demand funcation using indifferance curv ordelreay and competed demand curv

Market structures and monopoly, waht are the characteristics of perfect com...

waht are the characteristics of perfect competetion market

Explain why each of the following factors may influence the, Ask qExplain w...

Ask qExplain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the com

Programming and input-output models, Normal 0 false false f...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Differentiate between real and nominal variables, Differentiate between rea...

Differentiate between real and nominal variables.  In economics, the distinction among nominal and real numbers is often made. Nominal variables -- like nominal wages, interest

What do you meant by monetary targeting, Q. What do you meant by Monetary T...

Q. What do you meant by Monetary Targeting? Monetary Targeting: A policy which attempts to directly limit the growth in total supply of money in the economy. It was main policy

Socialist economy, what is basic economic problem

what is basic economic problem

Derive market equilibrium and illustrate it graphically, Market demand and ...

Market demand and supply of a good is shown by QB = 2,160 - 180P and QS = -2400 + 300P where QD, QS and P stand for quantity demanded, quantity supplied and price respectively. (a

ECON 202-1302A-04, homework assignments

homework assignments

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd